505 S Poplar St · Hartford City, IN 47348

$92,000

3 bd · 1.0 ba · 936 sqft · SingleFamily public records · 8 Days on market

Built 1955 5,097 sqft lot Est $103k · 11% under

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +19.9/30.0
• ARV discount +12.3/15.0
• DSCR +6.3/10.0
• 1% rule +5.5/10.0
• Schools +3.3/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Cute 3 bedroom 1 bath house. Newer metal roof and windows. Hardwood floors in living room and bedrooms. Eat in kitchen. Add your personal touches to make it your home!

Key facts

• Metal roof
• Eat in kitchen
• Hardwood floors

Tags

• METAL ROOF
• HARDWOOD FLOORS
• EAT IN KITCHEN

Property features AI

Finance

• Other: Zoned R-2 Residential District

Exterior

• Parking: Parking details not provided
• Security: No security features listed
• Utilities: Public water; Public sewer
• Home design: Single-family residence, site-built; One-story
• Construction: Vinyl siding; Metal roof; Crawl space foundation; Built as site-built home
• Exterior features: Storm door(s); Sloped lot

Interior

• Kitchen: Refrigerator; Electric range
• Bedrooms: Total of 7 rooms (bedroom count not specified)
• Flooring: Hardwood; Vinyl
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas forced air heating; Ceiling fan cooling
• Interior features: Ceiling fans
• Laundry & utility: Laundry on the main level; Gas water heater; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $92k.

Deal economics

• At list price, monthly cash flow is $112 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($970 rent vs $92k).
• Cap rate 7.7% vs local median 5.1% in Hartford City — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 66/100 on livability (#303 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Blackford County Schools (town): math 37% / reading 41% proficiency, ranked #164 of 301 in IN (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Blackford Primary School (352 students, 65% FRL); Blackford Jr-Sr High School (math 25% / reading 43%, grade F, #285 of 369 statewide, top 78%, 717 students, 50% FRL).
• Market conditions: 55 active listings in the ZIP; 9 units permitted in Blackford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $636 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Blackford County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,000

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.05% ✓
• Cap rate: 7.75%
• Cash-on-cash: 5.20%
• DSCR: 1.23
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $102,960
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
509 S Monroe St	0.14mi	3/2.0	1,044 (+12%)	22mo	$115,000	$110	52
322 W Grant St	0.64mi	3/1.0	912 (-3%)	18mo	$94,000	$103	50
813 S Richmond St	0.52mi	2/1.0 (-1)	1,014 (+8%)	9mo	$125,000	$123	50
517 S Richmond St	0.46mi	2/1.0 (-1)	816 (-13%)	7mo	$116,000	$142	46
612 N Mill St	0.60mi	2/1.0 (-1)	966 (+3%)	19mo	$19,000	$20	46
623 W Fulton St	0.63mi	2/1.0 (-1)	1,000 (+7%)	15mo	$83,000	$83	42
505 E Conger St	0.74mi	3/1.0	1,073 (+15%)	9mo	$90,000	$84	34
300 E Conger St	0.72mi	2/1.0 (-1)	1,016 (+8%)	24mo	$115,000	$113	28

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -8.2%
• Equity multiple: 0.70×
• Total profit: $-7,771
• Equity at exit: $13,717

10-year hold

• IRR: 1.4%
• Equity multiple: 1.10×
• Total profit: $2,497
• Equity at exit: $7,954

Cash invested: $25,760 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Indiana: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

10-day pay-or-quit; landlord-favorable; preempted.

Methodology + full state rankings →

ZIP-level market 47348

• Home prices YoY: -17.5%
• Active inventory: 55
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $970 medium
• Mortgage (P&I): −$482
• Tax from tax record: −$134 /mo · $1,608/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $112

Break-even live

Break-even rent $829

Max offer price $92,000

Occupancy floor 83%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $23,000
• Closing costs: $2,760
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-19
   days on market $92,000 Active 8 DOM
2. 2026-06-18
   days on market $92,000 Active 7 DOM
3. 2026-06-17
   days on market $92,000 Active 6 DOM
4. 2026-06-17
   status $92,000 Active 5 DOM
5. 2026-05-22
   listed $92,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $1,608 · $134/mo
• Projected year-2 tax: $1,608 · $134/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,642
• − Mortgage interest: −$5,153
• − Property taxes: −$1,608
• − Insurance: −$460
• − Repairs & maintenance: −$931
• − Management: −$931
• − Depreciation: −$2,676
• Taxable loss: −$118
• Est. tax savings @ 24.0%: +$28
• After-tax cash flow: $1,368/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Blackford County Schools
• NCES district ID: 1800570
• Math proficiency: 37% ▼ -12.00%
• Reading proficiency: 41% ▼ -5.00%
• Median HH income: $39,653
• Composite: 32.67/100
• National rank: #5656
• State rank: #164 of 301 in IN

Livability — Hartford City

• Score: 66/100
• State rank: #303
• US rank: #12079

Category grades

Amenities F Commute F Cost of living A+ Crime C Employment F Housing A+ Health & safety D User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hartford City, IN
• Population (ZIP): 8,986

Population outlook (Blackford County) Hauer SSP2

• Today (2025): 11,183 people
• By 2030: 10,542 · -5.7%
• By 2040: 9,292 · -16.9%
• By 2050: 8,176 · -26.9%
• By 2075: 6,549 · -41.4%
• By 2100: 5,636 · -49.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Lithuanian 3% Scotch-Irish 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Blackford

• 2024 margin: Solid R (+50.3) · D 23.9% · R 74.2% · Other 1.9%
• 2008→2024 swing: -50.1pp toward R · 2008: -0.2pp · 2024: -50.3pp
• All cycles: 2024: R+50.3 2020: R+46.1 2016: R+43.7 2012: R+16.5 2008: R+0.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.19%
• Current HPI: 223.0485
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

Industry mix (Fortune 500 HQ in IN)

Industry	F500 HQs	Revenue
▸Industrial Machinery	2	$37B
▸Healthcare	1	$177B
▸Pharmaceuticals	1	$45B
▸Metals / Steel	1	$18B
▸Agriculture	1	$17B
▸Packaging	1	$12B

Price history

1 event — show timeline

• 2026-05-22 Listed $92,000 IRMLS

Property tax history

+1.4%/yr

Latest (2025): $1,608 · +23.5% YoY. Source: county tax records.